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Mar 23, 2011 7:00pm PDT
blankfein, c.e.o. of goldman sachs. blankfein testified that a former board member, rajat gupta, gave rajaratnam confidential information valued at $17 million-- tips about a possible acquisition of wachovia bank and the $5 billion investment in the firm by warren buffett's berkshire hathaway. joining us now with analysis of the trial? steven feldman, a former assistant u.s. attorney in new york's securities fraud task force and now a white collar criminal defense attorney at herrick, feinstein. >> susie: hi, steven, how are you? >> great, susie. >> susie: do you think lloyd flank the blankfine helped the government's case? >> absolutely. the government's job is to put a bunch of bricks together and try to make their case. they have the tapes plaintiff gupta allegedly giving tips, and they need a human person, a moderator who give the the information about what was really going on on the outside, outside of that phone call. and mr. blankfein with his credentials and role with a great reputation on wall street was the perfect person to strengthen that case and fill in the bricks in the
Mar 15, 2011 7:00pm PDT
. and goldman sachs considered buying troubled insurer a.i.g. three years ago, according to wire tapped phone conversations. that audio tape was played for jurors today in the largest hedge fund insider trading case. raj rajaratnam, the accused founder of the galleon group hedge fund, was heard getting the scoop on possible purchases by goldman. his conversation was with a former goldman sachs director. now, rajaratnam denies any wrongdoing. he's charged with 14 counts of conspiracy and securities fraud. still ahead tonight-- why focusing on boosting productivity at the nation's colleges could help the american workforce. more now on japan, the markets, and fed. joining us-- diane swonk, chief economist at mesirow financial; and mike holland of holland and company. hi, diane, hi, mike. nice to have you with us. >> hi, susie. >> good to be here. >> susie: diane, let me begin with you. what's your take on japan. even though we don't have the acknowledge on the scope. do you think it will have an impact on the global economic recovery? >> there no question it will have an impact. the reaction to
Mar 13, 2011 5:30pm EDT
all and tell all about how goldman sachs mix all of that money until recently to keep its hands clean i'm afraid you will be disappointed. my book, when money was in fashion, which i have somewhere, was recently published by palgrave macmillan. it is a biography and memoir of my grandfather who was the son of the founder, marcos before farmer from the tiny village who came to the states in the great immigration wave of 1848. henry goldman revolutionized the financial world by developing a modern method of financing for commerce and industry which today is known as the ipo. when there were no pcs, no internet, no e-mail or even adding the scenes business was developed solely with talent, imagination and dreams he became america's first investment banker. yet he guarded his life so jealously he remained an enigma to the thousands of people whose lives he influenced and the many hedge fund managers and traders who worked at the firm today cannot even place his name. he was responsible for the unusual underwriting of more than 50 of the country's most successful publicly owned corporation
Mar 18, 2011 7:00pm PDT
of this stress test. warren buffett injected capital into goldman sachs at the height of the financial crisis. goldman today got the okay to buy out that investment, handing buffett a roughly 70% return on his investment. darren gersh, "nightly business report," washington. >> tom: the week ended with a day of gains for the major indices after a volatile week. let's get to tonight's market focus. this week was marked by nuclear fears in japan and more tension in libya, putting investors on edge. for the week, the dow industrials fell 1.5%. the gains today and yesterday were not enough to make up for the losses earlier in the week. the nasdaq dropped 2.7% from a week ago. the nasdaq remains in negative territory for the year. the s&p 500 fell 1.9%. consumer staple stocks were the biggest drag on the index this week. leading the sector gains today, financials. this e.t.f. bounced more than 1% with volume triple its normal pace. big banks took the lead after the federal reserve gave many of them its blessing to hike dividends and start stock buy- backs. as darren reported earlier, j.p. morgan wa
Mar 29, 2011 4:00am EDT
on more concerns about the nuclear crisis. and after a lower growth forecast from goldman sachs. tokyo electric power or tepco said traces of plutonium have been found in the soil at the fukushima daiichi nuclear power plant. the company's shares tumbled further on that news, plunging nearly 18% by the close. meanwhile, japan's national strategy minister appeared not to rule out nationalizing tepco fully or partially when asked about the government's plans for the company. >>> and elsewhere in the region, nina, you can see the negative sentiment found echoes with energy stocks finishing lower in sidney, as well. >>> let's turn our attention toward the u.s. stock markets. they managed to snap their three-day winning streak. in just the final hour of trading. here's how the numbers settled then. the dow dropped .2%, and when it comes to the nasdaq specifically, ebay shares weighed heavily on that tech-heavy index following the company's move to acquire gsi commerce. when it comes to the broad s&p, that index lost about $25% by the close. this is where we stand in terms of the pre-market
Mar 8, 2011 7:00pm PST
secrets on many well known companies, including google, ibm, ebay, intel, and goldman sachs. >> susie: our cameras were rolling when rajaratnam pulled up to the courthouse early this morning. from the moment he arrived, raj rajaratnam was in the spotlight. >> are you going to testify in your defense? >> susie: federal prosecutors allege rajaratnam used inside information to trade 35 stocks. the feds plan to use 173 wiretapped conversations and testimony from confidential informants against rajaratnam. on the list of the government's potential witnesses is lloyd blankfein, the c.e.o. of goldman sachs. rajaratnam's net worth is estimated at $1.5 billion, and he has spent an estimated $20 million on his defense, so far. his lawyers are expected to argue rajaratnam was simply doing thorough research in his role as a hedge fund manager. the trial is likely to last six to eight weeks. it is the government's highest profile attempt to crackdown on illegal trading on wall street. here's how u.s. attorney preet bharara put it when charges were announced at the end of 2009. >> it would be a mistake
Mar 2, 2011 1:15am EST
800,000. goldman sachs predicts that h.r. 1 would slow economic growth by act between 1.5% and 2.5% which translates to the american economy losing up to 2.4 million jobs. the so the recory of our economy should be of paramount concern at this time. i said during the debate on h.r. 1 earlier this month and i will repeat today that i believe the approach to deficit reduction adopted by the republican majority here in the house is far too narrow and too focused on the smallest segment of spending in the budget. it is a risky strategy, based on the specious concept of cut and grow, which of course has no basis in sound economic theory. so what -- where does this leave us? we are now six months into the current fiscal year, f.y. 2011. and hearings with regard to thephysial year 2012 budget have begun in the budget committee an appropriations committee. h.r. 1 is clearly not acceptable to the other body, nor would it be acceptable to the president whose signature is necessary before any funding bill can become law. what the president has proposed for the coming year a budget freeze at
Mar 8, 2011 7:00am EST
difficult case. >> lloyd glenn climb as on the list of witnesses, the chief executive of goldman sachs. he is one of the men accused of passing tips. henry budget expressed surprise at the number of wall street elite in the scandal. >> i am shocked at the fact that a goldman board member has been accused of what he has been accused of doing. picking up a phone and calling a hedge fund second after a board meeting. something that a junior trainee when understand is horrifying. >> in financial circles they are paying close attention. information is the lifeblood of traders did. there is a fine line between acting on tips and acting on private information. high-profile witnesses and recordings are said to be involved. it is said to be the biggest insider-trading case ever in the united states and the outcome could influence of business is done on wall street. -- how business is done on wall street. what is the leader of the ivory coast bridges -- has recently announced that his government will control all cocoa exports. a ban on cocoa exports instigated by the united nations has been enforced
Mar 9, 2011 12:00am PST
. joining me tonight, three remarkable women, dina powell at goldman sachs and behind the firm's initiative to help women with small businesses and management examination and zainab selbi and the organization helps survivors of war rebuild their lives and tina brown, editor and chief of the daily beast and news beat and hold a second summit next week. it will bring together female leaders from all walks of life and the world. here's a look at last year's conference. >> the rights of women after the 21st century, what civil rights were to the 20th century. >> this will be an amazing opportunity for all of us to learn through the powerful stories of women and some of the men working on some of the most serious challenges of the century. >> they did not expect a short woman not up uniform walking the prisons i think the message was this is a new way of life. >> for every place where women's lives have improved there are still too many where there has not been that progress. >> when we come together as a community and support each other it's amazing the things we can do. >> the said the name of
Mar 1, 2011 11:00pm EST
. but as we expand this balance sheet, and buy treasuries and buy goldman sachs and expect that these ultimately get deposited in banks so that those banks woul ultimately lend, i have to be honest with you, i not quite sure, and this is where i'm headed in terms of my question, i'd like toget a grasp from you, i don't see that lending still taking place and i hear it all over my state. i see food prices rising. i see gas prices rising, even before what was happeng in north africa. that certainly is an exacerbating reality. tuition rates rising. and so while we are worried about deflation, i just see a combination of rising prices for the average family of a lack of investment that i had hoped that would take place here and so would you get me your view of how the first and second rounds of quantitative easing are working? >> i thinkhey're working. i think they're working well. the first round in march 2009 was almost -- almost t same day as the troth of the stock market and since then the market has virtually doubled. the economy was going from total collapse at the end of
Mar 4, 2011 7:00pm PST
financial stocks. each of these lost around 3%. goldman sachs dropped to a new multi-month low with today's 2% fall. it takes goldman back to prices last seen in december. goldman along with citi were downgraded by the banking analyst at bank of america- merrill lynch over worries about weak first quarter earnings. here's the past 90 sessions for j.p. morgan. it fell 1% today, but this week, it was the worst dow industrial component, falling 2.5% since last friday. meantime, drug giant pfizer was the best dow stock this week. despite this fractional loss today, the stock was up 4% this week and hit a new 52-week high yesterday as big healthcare has staged a comeback. in fact, the healthcare sector was the best performing sector today. following-up on the employment services stocks we mentioned last night. some of the gains ahead of the jobs data did not hold. robert half, s.f.n. and manpower dropped by at least 1% each. online jobs site monster worldwide saw stiffer selling off more than 6%. this is the past 90 sessions. this drop in january came when monster missed earnings estimates and
Mar 1, 2011 7:00pm PST
questions for her to the s.e.c. has charged a former goldman sachs director with insider trading. rajat gupta is accused of leaking confidential information to the galleon group. galleon's founder raj rajaratnam is awaiting trial on securities fraud and conspiracy charges. now, investigators say gupta gave tips to rajaratnam about goldman, including berkshire hathaway's plans to take a $5 billion stake in the wall street firm. gupta's lawyers call the charges baseless. goldman sachs has not commented. >> tom: a corporation is not a person and doesn't have the same protections when it comes to the release of documents held by the government. that's the ruling today from the u.s. supreme court in a case involving at&t. the telecom giant wanted to prevent the release of thousands of company documents gathered during a f.c.c. investigation into billing practices. competitors sued under the freedom of information act to see those papers. a lower court ruled in favor of at&t. that was overturned today. >> susie: with the launch of a >> susie: with the launch of a n
Mar 22, 2011 7:00pm PDT
auto makers. an estimate by goldman sachs says that idle plants are costing toyota alone $37 million a day. lucy craft, "nightly business report," tokyo. >> tom: still no word tonight on when japanese factories providing critical supplies of silicon wafers will be back up and running. those wafers are a key link in the global high-tech supply chain. as darren gersh reports, the earthquake in japan has shown the world just how vulnerable some links in that supply chain can be. >> reporter: whether it's a tablet, a mobile phone, or a digital camera, if it has a memory, your gadget's supply chain probably winds through japan's earthquake zone. plants producing as much as 25% of the world's silicon wafers, especially wafers used to make memory chips, were damaged in the quake. to get by, many chip makers are now relying on their inventory of wafers. that should buy the industry some time, says i.h.s. isuppli's dale ford. >> if it's going to take them more than, say, three weeks to restore that production and that supply, we could start to feel the pinch in the ability to meet the demand
Mar 1, 2011 6:00pm EST
to the against of goldman sachs when the government lawyers released the e-mails as part of a fraud information. >> e-mails? what's that about? they simply released private e-mails from goldman sachs. it's an outrage. >> how do they go after goldman sachs? it must be protected at all costs. are republicans right? are teachers overpaid and bankers underpaid? let's find out. on this program we show you the numbers, so you can make the decision on your own. let's compare what teachers make in salaries to those of bankers. for example an average public schoolteacher's salary in the country is $55,350. in wisconsin it's $48,000. how dare they. look at that, privileged elite. now how about the wall street bonuses? this is per employee in 2010. blackstone, $810,717 per employee in bonus. that's not just -- that's not even their salary. green hill & company is $551,000, lazard is 501,000. of course, the overall bonus average across wall street per employee is $128,530. that is, again, their bonus, not even their salary. by the way, you may recall that a couple of those banks also gol bailout money from
Mar 8, 2011 5:30pm PST
. lloyd played fine -- blankfein, the head of goldman sachs. street analyst, turn journalist expressed surprise that so many members of wall street believe are caught up in the scandal. >> i am shocked by the fact that a goldman board member is accused of doing what he is accused of doing. which is picking up the fund seconds after a board called and calling in -- calling a hedge fund. even a trainee would understand how horrifying that is. and this is someone who has been in business for 40 years. >> these jurors will hear how the hedge fund manager with about his business. they will ultimately decide if he is again a poster board -- poster boy for wall street's misdeeds. bbc news, new york. >> direct talks to try to end one of your's most intractable disputes on the way in brussels. ed this is between the serbian and the kosovan governments. serbia still refuses to recognize kosovo broke away from serbia three years ago. bullets and tear gas fired at students. doctors say 10 people were wounded, five it seriously. columbia's defense ministry -- colombia's defense ministry says soldie
Search Results 0 to 49 of about 216 (some duplicates have been removed)